Abstract
In this paper, a multi-item multi-constrained Economic Order Quantity model with nonlinear unit holding cost and partial backordering is proposed. To develop an applicable model, different technical, physical, and strategic constraints are considered such as available budget, warehouse capacity, total permissible holding cost, and total permissible backordering cost constraints. The goal is to determine the lengths of inventory cycles, where the inventory level is positive and negative such that the total inventory costs are minimized. In addition, backordering rate during shortage period for each product is considered as a decision variable which can significantly reduce the total inventory costs. Due to complexity and nonlinearity of the proposed model, interior-point method and Moth-Flame optimization algorithm are utilized to solve the model in different sizes. At the end, the performance of the solution methods is compared statistically considering three measures to determine the superior solution method.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
